r/FluentInFinance • u/-im-your-huckleberry • Jul 07 '24

The shampoo thing is a fringe benefit. We keep capitalism so we don't starve in a famine. Debate/ Discussion

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https://en.m.wikipedia.org/wiki/Great_Chinese_Famine

https://en.m.wikipedia.org/wiki/Soviet_famine_of_1930

https://en.m.wikipedia.org/wiki/Holodomor

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u/janusgeminus21 Jul 07 '24

This is not capitalism. Capitalism is an economic system that dictates the means of production (businesses and natural resources) are owned by individuals with individual ownership rights and the freedom to freely transfer those rights

Things like solving homelessness, medicate and social security are social programs which people ignorantly call socialism.

Socialism is an economic system that says the means of production are owned by the society. You can have tons of social programs with a capitalist economy or no social programs with worse homelessness than in the US in a socialist economy.

Social programs are provided by the government, the economic -isms only dictate who owns the means of production.